German industry has seen a reduction in the amount of incoming orders for the second month in a row. Orders in the manufacturing sector fell significantly by 4.7 percent in March compared to the previous month, the Federal Statistical Office announced in Wiesbaden. The main reason was the reluctance of customers from abroad to place orders. In particular, manufacturers of capital goods felt the impact of this restraint, against the backdrop of the Ukraine war, (minus 8.3 percent). Compared with the same month of the previous year, the March 2021 order intake was 3.1 percent lower overall, adjusted for calendar effects.
The volume of foreign orders decreased by 6.7 percent in March compared with the previous month. There was a significant drop of 13.2 percent in business with countries outside the eurozone. By contrast, orders from the common currency area rose by 5.6 percent. Domestic orders fell by 1.8 percent.
According to the latest data, incoming orders had already fallen by 0.8 percent overall in February compared with the previous month. However, the order books of many companies have been well filled to date. Due to supply bottlenecks and shortages of materials, orders often cannot be processed at the usual pace.
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